Altruist Raises $169M in Funding to Expand Operations and Develop Services

Altruist Raises $169M in Series E Funding

Altruist's Series E Funding

Key Highlights:

  • Series E Funding: Altruist, a custodian for independent RIAs, raised $169 million in Series E funding.
  • Valuation: The funding round valued the company at over $1.5 billion.
  • Investors: ICONIQ Growth led the round, with participation from Granite Capital Management, Adams Street Partners, and Sound Ventures.
  • Expansion Plans: Altruist will use the funds to expand operations and further develop its services.

Altruist's Target Market

  • Target Market: Independent registered investment advisors (RIAs) seeking a custodian and technology platform for their operations.
  • RIAs Looking for Streamlined Solutions: Advisors who want a single platform for account opening, trading, reporting, billing, and portfolio management.
  • Advisors Focused on Client-Facing Activities: Professionals who value automation and efficiency to free up time for client interactions and relationship-building.

What Altruist Needs to Buy

  • Technology Development: Investments in software development to enhance their platform's capabilities and user experience.
  • Partnerships and Integrations: Collaborations with adjacent service providers to offer a comprehensive solution for RIAs.
  • Marketing and Sales Support: Resources to expand their customer base and increase brand awareness among independent RIAs.

Sorted raises £1.65M in Seed Funding for Recycling Tech

Summary: Sorted, a recycling tech startup based in the UK, recently secured £1.65M in seed funding to revolutionize waste management and recycling. Their AI-powered sorting solutions aim to improve the efficiency of recycling processes and contribute to a more sustainable future.

Funding Amount: £1.65 million

Industry: Software Development

Employee Count: 51-200

CEO: Carmen Carey (CEO Linkedin)

What Sorted needs to buy: Sorted is seeking partnerships with waste management companies, recycling industry leaders, and environmental organizations. Companies specializing in AI technology, sustainability solutions, and waste management systems are ideal partners to support Sorted's expansion plans and drive innovation in the recycling industry.